Otter Creek Advisors LLC purchased a new position in Jack in the Box Inc. (NASDAQ:JACK) in the fourth quarter, HoldingsChannel reports. The fund purchased 51,506 shares of the restaurant operator’s stock, valued at approximately $5,053,000. Jack in the Box makes up approximately 0.7% of Otter Creek Advisors LLC’s portfolio, making the stock its 29th largest holding.
A number of other hedge funds also recently added to or reduced their stakes in JACK. Jana Partners LLC bought a new position in Jack in the Box in the third quarter worth about $134,200,000. Millennium Management LLC raised its stake in Jack in the Box by 36.9% in the fourth quarter. Millennium Management LLC now owns 994,440 shares of the restaurant operator’s stock worth $97,565,000 after buying an additional 268,145 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Jack in the Box by 179.3% in the third quarter. Ameriprise Financial Inc. now owns 384,754 shares of the restaurant operator’s stock worth $39,214,000 after buying an additional 247,016 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Jack in the Box in the fourth quarter worth about $14,717,000. Finally, Caxton Associates LP bought a new position in Jack in the Box in the fourth quarter worth about $14,313,000. 98.81% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Jack in the Box from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 5th. SunTrust Banks set a $109.00 price target on shares of Jack in the Box and gave the stock a “buy” rating in a research note on Friday, December 1st. Wedbush downgraded shares of Jack in the Box from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $115.00 to $104.00 in a research note on Monday, November 20th. Oppenheimer reissued a “buy” rating on shares of Jack in the Box in a research note on Tuesday, December 19th. Finally, Jefferies Group downgraded shares of Jack in the Box from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $100.00 in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Jack in the Box has an average rating of “Buy” and a consensus target price of $108.38.
Jack in the Box Inc. (JACK) opened at $84.85 on Friday. Jack in the Box Inc. has a one year low of $79.30 and a one year high of $113.00. The firm has a market cap of $2,505.79, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.43. The company has a current ratio of 1.53, a quick ratio of 1.52 and a debt-to-equity ratio of -2.77.
Jack in the Box (NASDAQ:JACK) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.17. Jack in the Box had a net margin of 8.20% and a negative return on equity of 28.27%. The business had revenue of $294.50 million during the quarter, compared to the consensus estimate of $284.37 million. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. equities research analysts expect that Jack in the Box Inc. will post 3.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Monday, March 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, March 2nd. Jack in the Box’s dividend payout ratio is 43.24%.
In related news, VP Vanessa C. Fox sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $88.40, for a total transaction of $44,200.00. Following the completion of the sale, the vice president now owns 2,142 shares of the company’s stock, valued at $189,352.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Leonard A. Comma sold 9,436 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $99.78, for a total transaction of $941,524.08. Following the sale, the chief executive officer now directly owns 181,320 shares of the company’s stock, valued at approximately $18,092,109.60. The disclosure for this sale can be found here. Insiders have sold 16,340 shares of company stock valued at $1,619,359 in the last ninety days. Insiders own 2.60% of the company’s stock.
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Jack in the Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.
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